Float Financial Raises $70 Million in Series B Funding to Expand Business Finance Platform for Canadian Businesses

Float Financial, a Canadian business finance platform, has secured a significant amount of funding to further expand its services for businesses across the country. The company announced that it has raised 70 million Canadian dollars (about $49 million) in a Series B funding round, in addition to a credit facility of 50 million Canadian dollars (about $38 million) announced earlier this year.

With a total funding of 120 million Canadian dollars (about $83 million) over the past 12 months, Float Financial is on a mission to support thousands of Canadian businesses with the financial solutions they need to thrive in the future. CEO Rob Khazzam expressed his excitement about the investment, stating that it will fuel the company’s growth and enable them to reach more businesses in need of financial services.

Float Financial offers a range of financial services and software that help businesses of all sizes manage their spending, savings, and overall financial growth. Since its Series A funding in November 2021, the company has experienced significant growth in various areas, including total payment volume, revenue, assets under management, and credit issuance.

The funding round was led by Growth Equity at Goldman Sachs Alternatives, with investor Clare Greenan praising Float Financial for making innovative business finance solutions more accessible to Canadian businesses. The company has also partnered with Airwallex to power a new bill pay product, offering fast and cost-efficient bill payments for both domestic and international transactions.

Overall, Float Financial’s impressive growth and commitment to providing top-notch financial solutions have positioned them as a key player in the Canadian business finance industry. With this latest funding round, the company is well-equipped to continue supporting businesses and driving economic growth in Canada.
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